Bravura was mandated in 2017 by Westbrooke Investments (Pty) Ltd (“Westbrooke”), to assist with the disposal of Forge Group’s Industrial division, comprising Allied Putziger Pty Ltd (trading as Toolquip and Allied) and F and H Machine Tools Pty Ltd and Belt Brokers Pty Ltd (“The Forge Industrial Group”). Bravura managed an acquirer introductory process which resulted in Invicta Holdings Limited (“Invicta”) acquiring The Forge Industrial Group.
Toolquip and Allied and F & H Machine Tools are respected and long-established providers of industrial products, engineering consumables, tools and machine tools with branches in Johannesburg, Middelburg, Rustenburg, KZN, Cape Town and Port Elizabeth. Belt Brokers imports and distributes plied steel cord and PVC conveyor belting, manufactures and distributes idlers, frames, and related products and it offers belt splicing and maintenance services to its customers, operating mainly in the aftermarket.
The acquisition is expected to generate positive effects on both sales and results of Invicta and The Forge Industrial Group in the long term.
Bravura is proud to have acted as deal originator to Westbrooke in their disposal of The Forge Industrial Group and look forward to working with their team on future transactions.
Categories: Transactions, News
Published: 10 August 2018